Meridian Trust Federal Credit Union Mortgage Rates, Fees & Info
Cheyenne, WYLEI: 5493007KYI3BO5LTXF79
Tax ID: 83-0179749
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Mortgage Data
Review & Overview
Meridian Trust Federal Credit Union is a smaller credit union specializing in Cash Out Refi, Refi, and Home Purchase loans. Meridian Trust Federal Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Cheyenne, Riverton, Jackson, Scottsbluff, and Rock Springs among others. We have data for 23 markets. (Some data included below & more in-depth data is available with an active subscription.)Meridian Trust Federal Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Meridian Trust Federal Credit Union is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 11/21/24 |
| 30 Year Conventional Purchase | 6.27% | 11/21/24 |
| 30 Year Conventional Refi | 6.27% | 11/21/24 |
| 30 Year Cash-out Refi | 6.27% | 11/21/24 |
| 15 Year Conventional Purchase | 5.68% | 11/21/24 |
| 15 Year Conventional Refi | 5.68% | 11/21/24 |
| 15 Year Cash-out Refi | 5.68% | 11/21/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Meridian Trust Federal Credit Union Mortgage Calculator
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This is not an official calculator from Meridian Trust Federal Credit Union. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
324Origination Dollar Volume (All Markets)
$49,540,000Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| CHEYENNE, WY (FHA|USDA|VA) | 134 | $20,130,000 | $150,224 | $0 | 3.88% |
| Outside of Metro Areas | 64 | $7,700,000 | $120,313 | $2,027 | 3.75% |
| Riverton, WY (FHA|USDA|VA) | 48 | $6,940,000 | $144,583 | $2,939 | 3.61% |
| Jackson, WY-ID (FHA|USDA|VA) | 16 | $4,640,000 | $290,000 | $0 | 3.70% |
| Scottsbluff, NE (FHA|USDA|VA) | 18 | $1,970,000 | $109,444 | $0 | 3.74% |
| Rock Springs, WY (FHA|USDA|VA) | 12 | $1,820,000 | $151,667 | $0 | 3.41% |
| CASPER, WY (FHA|USDA|VA) | 8 | $1,350,000 | $168,750 | $0 | 3.57% |
| FORT COLLINS, CO (FHA|USDA|VA) | 4 | $890,000 | $222,500 | $0 | 3.78% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 4 | $850,000 | $212,500 | $0 | 4.02% |
| GREELEY, CO (FHA|USDA|VA) | 3 | $775,000 | $258,333 | $0 | 3.39% |
| BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 3.00% |
| Statesboro, GA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 2.63% |
| Laramie, WY (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 2.88% |
| Fort Morgan, CO (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 3.70% |
| BILLINGS, MT (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 3.63% |
| RAPID CITY, SD (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 3.75% |
| Montrose, CO (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 3.69% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 2.88% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 4.99% |
| Sheridan, WY (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 3.38% |
| Evanston, WY (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 2.38% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 5.00% |
| Rexburg, ID (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 3.14% |
Similar Lenders
We use machine learning to identify the top lenders compared against Meridian Trust Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2020, Meridian Trust Federal Credit Union's most frequently originated type of loan was Conventional, with 311 originations. Their 2nd most popular type was HELOC, with 6 originations.
Loan Reason
For 2020, Meridian Trust Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 176 originations. The 2nd most popular reason was Refi, with 79 originations.
Loan Duration/Length
For 2020, Meridian Trust Federal Credit Union's most frequently cited loan duration was 30 Year, with 144 originations. The 2nd most popular length was 15 Year, with 80 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 1 | $185,000 | $185,000 |
| $1k-2k | 1 | $45,000 | $45,000 |
Meridian Trust Federal Credit Union's average total fees were $2,027, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1 originations.
Interest Rates
During 2020, Meridian Trust Federal Credit Union's average interest rate for loans was 3.57%, while their most frequently originated rate bucket for loans was 3-4%, with 213 originations.
Loan Sizing
2020 saw Meridian Trust Federal Credit Union place emphasis on $100,000 or less loans with 128 originations, totaling $7,060,000 in origination value.
Applicant Income
Meridian Trust Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 78 originations. The second most popular income band? $75k-100k, with 75 originations.
Applicant Debt to Income Ratio
Meridian Trust Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 79 originations. The next most common DTI ratio? 30-36%, with 73 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications87.48%
Meridian Trust Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination72.22%
Meridian Trust Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1000.0 | 1 | $105,000 | $105,000 |
| 1012.5 | 1 | $135,000 | $135,000 |
| 1035.0 | 1 | $205,000 | $205,000 |
| 1050.0 | 1 | $145,000 | $145,000 |
| 1068.75 | 1 | $145,000 | $145,000 |
| 1086.54 | 1 | $145,000 | $145,000 |
| 1147.5 | 2 | $310,000 | $155,000 |
| 1174.0 | 1 | $185,000 | $185,000 |
| 1207.5 | 1 | $165,000 | $165,000 |
| 1250.0 | 1 | $125,000 | $125,000 |
| 1252.5 | 1 | $165,000 | $165,000 |
| 1261.5 | 1 | $165,000 | $165,000 |
| 1275.0 | 1 | $175,000 | $175,000 |
| 1305.0 | 1 | $175,000 | $175,000 |
| 1322.15 | 1 | $165,000 | $165,000 |
| 1342.0 | 1 | $125,000 | $125,000 |
| 1350.0 | 2 | $370,000 | $185,000 |
| 1357.5 | 1 | $185,000 | $185,000 |
| 1380.0 | 1 | $185,000 | $185,000 |
| 1390.0 | 1 | $135,000 | $135,000 |
| 1393.5 | 1 | $135,000 | $135,000 |
| 1400.0 | 1 | $285,000 | $285,000 |
| 1417.5 | 1 | $185,000 | $185,000 |
| 1425.0 | 1 | $195,000 | $195,000 |
| 1453.5 | 1 | $195,000 | $195,000 |
| 1492.5 | 1 | $195,000 | $195,000 |
| 150.0 | 1 | $25,000 | $25,000 |
| 1500.0 | 1 | $205,000 | $205,000 |
| 1520.0 | 1 | $195,000 | $195,000 |
| 1527.0 | 1 | $155,000 | $155,000 |
| 1530.0 | 1 | $205,000 | $205,000 |
| 1552.5 | 1 | $205,000 | $205,000 |
| 1567.5 | 1 | $205,000 | $205,000 |
| 157.5 | 2 | $50,000 | $25,000 |
| 1586.25 | 1 | $215,000 | $215,000 |
| 161.25 | 1 | $25,000 | $25,000 |
| 1640.0 | 1 | $325,000 | $325,000 |
| 1706.25 | 1 | $225,000 | $225,000 |
| 1755.0 | 1 | $235,000 | $235,000 |
| 1762.5 | 2 | $470,000 | $235,000 |
| 1800.0 | 1 | $245,000 | $245,000 |
| 1812.75 | 1 | $245,000 | $245,000 |
| 1850.0 | 1 | $185,000 | $185,000 |
| 1856.25 | 1 | $245,000 | $245,000 |
| 1875.0 | 2 | $510,000 | $255,000 |
| 1897.5 | 1 | $255,000 | $255,000 |
| 1931.25 | 1 | $195,000 | $195,000 |
| 1961.06 | 1 | $265,000 | $265,000 |
| 1995.0 | 1 | $195,000 | $195,000 |
| 2025.0 | 2 | $550,000 | $275,000 |
| 2060.0 | 1 | $205,000 | $205,000 |
| 2073.65 | 1 | $215,000 | $215,000 |
| 2332.5 | 1 | $315,000 | $315,000 |
| 2410.0 | 1 | $485,000 | $485,000 |
| 2531.25 | 1 | $335,000 | $335,000 |
| 2542.5 | 1 | $335,000 | $335,000 |
| 2557.5 | 1 | $345,000 | $345,000 |
| 2568.0 | 1 | $345,000 | $345,000 |
| 2570.0 | 1 | $255,000 | $255,000 |
| 2670.0 | 1 | $355,000 | $355,000 |
| 2703.75 | 1 | $365,000 | $365,000 |
| 277.5 | 1 | $35,000 | $35,000 |
| 2872.0 | 1 | $285,000 | $285,000 |
| 300.0 | 2 | $90,000 | $45,000 |
| 3112.5 | 1 | $415,000 | $415,000 |
| 3135.6 | 1 | $245,000 | $245,000 |
| 3174.75 | 1 | $215,000 | $215,000 |
| 3277.5 | 1 | $325,000 | $325,000 |
| 337.5 | 1 | $45,000 | $45,000 |
| 3375.0 | 1 | $455,000 | $455,000 |
| 3442.5 | 1 | $455,000 | $455,000 |
| 360.0 | 1 | $45,000 | $45,000 |
| 371.25 | 1 | $45,000 | $45,000 |
| 375.0 | 1 | $55,000 | $55,000 |
| 398.0 | 1 | $55,000 | $55,000 |
| 399.0 | 18 | $1,750,000 | $97,222 |
| 405.0 | 1 | $55,000 | $55,000 |
| 416.25 | 1 | $55,000 | $55,000 |
| 4250.0 | 1 | $345,000 | $345,000 |
| 506.22 | 1 | $65,000 | $65,000 |
| 532.5 | 1 | $75,000 | $75,000 |
| 562.5 | 4 | $300,000 | $75,000 |
| 595.0 | 1 | $115,000 | $115,000 |
| 600.75 | 1 | $85,000 | $85,000 |
| 607.5 | 1 | $85,000 | $85,000 |
| 637.5 | 1 | $85,000 | $85,000 |
| 641.25 | 1 | $255,000 | $255,000 |
| 675.0 | 2 | $380,000 | $190,000 |
| 682.5 | 1 | $95,000 | $95,000 |
| 75.0 | 1 | $15,000 | $15,000 |
| 750.0 | 1 | $105,000 | $105,000 |
| 802.5 | 1 | $105,000 | $105,000 |
| 803.0 | 1 | $145,000 | $145,000 |
| 840.0 | 1 | $165,000 | $165,000 |
| 845.5 | 1 | $115,000 | $115,000 |
| 875.0 | 1 | $65,000 | $65,000 |
| 907.5 | 1 | $125,000 | $125,000 |
| 937.5 | 2 | $250,000 | $125,000 |
| 945.0 | 1 | $125,000 | $125,000 |
| 99.0 | 23 | $1,165,000 | $50,652 |
| NA | 173 | $26,765,000 | $154,711 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 1 | $65,000 | $65,000 |
| Single Family (1-4 Units):Site-Built | 323 | $49,475,000 | $153,173 |